Vornado Realty Trust sold 1933 S. Broadway in Los Angeles to PHR LA Mart LLC for $55 million, or about $69 per square foot.
Built in 1958, the 12-story structure measures 793,158 square feet on 9.31 acres. L.A. Mart is a one-of-a-kind design center, office and showroom building in the downtown area. The property is a design, purchasing and event destination for many of the West Coast’s finest retailers and designers. It has on-site property management, about 200 parking spaces and consists of offices and showrooms.
Bob Safai, Matt Case and Brad Schlaak of Madison Partners represented the seller.
For more information, please refer to CoStar COMPS #2488632.